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Marshall Co. lands plant

An international company that makes insulation said Wednesday it will build its first U.S. manufacturing facility in Marshall County.

Roxul Inc. makes stone wool insulation from natural stone and recycled content. The company said it will invest about $130 million and will start later this year on construction of a 600,000-square-foot facility in the Chickasaw Trail Industrial Park in Byhalia.

In announcing the project, Mississippi Gov. Phil Bryant and company officials said the plant will create about 150 jobs. Production is scheduled to begin in 2014.

Roxul Inc. is based in Canada and is a subsidiary of Rockwool International, based in Denmark.

Dell to cut $2B in expenses

Computer maker Dell Inc. is planning to trim its expenses by more than $2 billion during the next three years as it tries to move into the more lucrative areas of technology.

Dell outlined its cost-cutting plans Wednesday, the day after the company committed to paying the first quarterly dividend in its 28-year history. The quarterly dividend of 8 cents per share will cost Dell more than $560 million a year.

The bulk of the projected savings will come from Dell's sales group, where the company plans to wring out about $800 million in expenses. Another $600 million in cuts are envisioned in Dell's factories and other parts of its supply chain. The remainder will be concentrated in service delivery ($400 million) and its general and administrative spending ($200 million).

Dell expects to make fewer products.

The company, which is based in Round Rock, Texas, didn't say whether it will lay off workers or eliminate jobs through attrition to save money. Dell currently employs about 109,000 workers.

Firm admits fraud scheme

Accounting firm BDO USA has admitted to criminal wrongdoing and will pay $50 million to the federal government for its role in a tax-shelter fraud scheme.

The Department of Justice said Wednesday the firm has accepted responsibility for the scheme.

Between 1997 and 2003, BDO sold illegal tax shelter products to wealthy clients that generated at least $6.5 billion in phony tax losses.

The company's former chairman and CEO Denis Field was indicted in 2009 for leading the scheme and is awaiting retrial. Five other BDO partners or principles have pleaded guilty and await sentencing.

The government has agreed to defer prosecution and eventually move to dismiss the case if the firm meets specific conditions.

Judge stops union election

A federal judge has temporarily stopped a union-organizing election at American Airlines that was to begin next week.

U.S. District Court Judge Terry R. Means said Wednesday that American was likely to win a lawsuit seeking to stop the election among passenger-service agents, so he granted a temporary restraining order.

The judge scheduled a hearing for June 21. The National Mediation Board had scheduled voting to begin that day.

- From staff and wire reports

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Marshall Co. lands plantAn international company that makes insulation said Wednesday it will build its first U.S. manufacturing facility in Marshall County.Roxul Inc. makes stone wool insulation